The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread more
Best Buy is getting into the fitness industry.
The big-box electronics retailer announced Tuesday its plans to open a "dedicated fitness space," selling spin bikes and connected treadmills, in more than 100 stores by the end of the year.
On Tuesday, workout equipment will be available online, including spin bikes from Flywheel Sports, a compression recovery system from NormaTec, muscle rollers from Hyperice, rowing machines from Hydrow and a series of connected treadmills by NordicTrack. The products will begin to hit stores in the coming months.
"We know there's a growing intersection between fitness and technology," Jason Bonfig, Best Buy's chief merchandising officer, said in a statement. "We've promised our customers we'll help enrich their lives, including their health and wellness, by using technology. This is a great example of how we're living up to that commitment."
The announcement comes as Best Buy has already started to venture into health tech. It acquired GreatCall, a health-services platform that focuses on personal emergency response services for senior citizens for $800 million in August 2018. Earlier this year, it began to sell TytoCare's telehealth devices online and in some stores. Then, earlier this month, it acquired senior remote monitoring company Critical Signal Technologies for an undisclosed amount.
"This clearly fits into their overall focus in thinking," NPD Group analyst Stephen Baker said. "It's taking advantage of a market that's growing. ... Clearly they are building a constituency as a destination for health technology as that expands."
Meantime, the market for in-home workout equipment in the U.S. continues to grow, with the likes of Peloton and Mirror generating buzz with their products. More and more consumers are opting to invest in a rowing machine or one of Mirror's interactive, full-length mirrors that teaches gym classes instead joining a gym. Peloton, which makes bikes and treadmills, recently filed with securities regulators for an IPO.
"Health is a bit of a longer term value driver for us, but we absolutely like what we are starting to see in health," Best Buy CEO Corie Barry told analysts on a post-earnings conference call last month. "This is ... around helping older Americans live a more independent life in their homes with the help of technology, which aligns very well to what we are trying to accomplish overall."
As part of Tuesday's announcement, Best Buy said its in-home experts will get training on the new workout gear and how to install it in homes.
Best Buy shares, with a market value of about $17.9 billion, are up more than 25% this year.